Lenexa Kansas, suburban Kansas City, Real Estate Market Update August 6th, 2009
Lenexa is a large and growing city in Kansas with a plethora of homes for sale. Let's break down the Lenexa real estate market by price range.
How many Lenexa homes are for sale in Lenexa at $150,000 or less?
As of August 6th, 2009 there are 33 homes listed for sale in Lenexa Kansas, suburban Kansas City in Johnson County listed at $150,000 or less. Since March 1st, 2009 38 single family homes have sold in Lenexa, KS at $150,000 or less. This would suggest a slight seller advantage at this point. Demand is likely boosted by the summer rush and the $8000 tax credit.
How many homes are for sale in Lenexa from $150,000 to $250,000?
As of August 6th, 2009 there are 101 homes listed for sale in Lenexa Kansas, suburban Kansas City in Johnson County with an asking pricee between $150,000 and $250,000 . Since March 1st, 2009 136 single family homes have sold in Lenexa, KS between $150,000 and $250,000. Some slight seller advantage. Again, most likely enhanced by the summer rush and demand is helped by the $8000 tax credit
How many homes are for sale in Lenexa from $250,000 to $450,000?
As of August 6th, 2009 there are 120 homes listed for sale in Lenexa Kansas, suburban Kansas City in Johnson County listed at $250,000 to $450,000. Since March 1st, 2009 75 homes have sold in Lenexa, KS between $250,000 and $450,000. Based on the rate of absorbtion of inventory with recent demand levels for housing in Lenexa, the advantage has definately shifted to the buyer and there is more supply than demand for houses in this price range.
How many homes are for sale in Lenexa from $450,000 to $700,000?
As of August 6th, 2009 there are 72 homes listed for sale in Lenexa Kansas, suburban Kansas City in Johnson County listed at $450,000 to $700,000. March 1st 2009 22 homes have sold in Lenexa, KS between $450,000 and $700,000. With over a years worth of inventory based on recent demand a Buyers Advantage exists. Buyers in this price range may also be considering homes in Overland Park Kansas or Leawood Kansas.
How many homes are for sale in Lenexa from $700,000 to $1,000,000?
As of August 6th, 2009 there are 28 homes listed for sale in Lenexa Kansas, suburban Kansas City in Johnson County listed at $700,000 to $1,000,000. Since March 1st 2009 only one listed home has closed in this price range. Strong buyer advantage. At this price point, buyers may also be looking at Leawood Kansas, Overland Park Kansas, and Mission Hills Kansas as there are more choices in those cities at this price point.
How many homes are for sale in Lenexa for $1,000,000 or more?
As of August 6th, 2009 there are 2 homes listed for sale in Lenexa Kansas, suburban Kansas City in Johnson County listed at $1,000,000 or more. Since March 1st, 2009 not one home listed in this price range has sold in Lenexa, KS at the Millions Dollar plus luxury home price point. Even with the beautiful rolling hills of Lenexa a supply of homes greater than 18 months compared to demand is a definate buyer's market. Upper bracket home buyers are probably considering homes in Overland Park KS, Leawood KS, and Mission Hills Kansas.
The trend is picking up as far as sales volume. Credit is getting slighly easier to obtain although it will not return, at least anytime soon, to the easy credit access of 2003-2005. Those days are long gone.
Buyers are very interested in the $8,000 tax credit which is spurring interest in the market. This seems to be especially true for the under $250,000 price range.
In General, interest rates are at or near generational lows, assuming you have good credit. Now is a great time to buy, while activity is starting up and there is time to get your low low low interest rate locked in.
Ken Jansen Broker Associate, CRS, ABR, CLHMS, ePRO, CSP
Keller Williams Realty Partners, Inc. Overland Park KS 66210
Phone 913-908-2215 Fax 913-744-2714
email Ken@KenJansenSellsHomes.com
website www.KansasCityRealEstate411.com
